Page 49: of Offshore Engineer Magazine (May/Jun 2013)

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Seismic Vessels

Dolphin Geophysical’s remarkable GC Rieber’s Geo Atlantic, built success, since it was established in in 2002, will be upgraded to tow

D late 2010, has been outlined by CEO 14 streamers at a yard in Singapore

Atle Jacobsen. He says that Dolphin prior to delivery, which is expected had already become a sizeable to be in January 2014. Dolphin is player with a 5% market share, chartering the vessel on a fxed which it hoped to grow to 9% over contract of three and a half years, the next couple of years. Revenues with additional options for two, were US$221.3 million last year, two-year extensions. A second up from $97.6 million in 2011, and Sanco newbuild, Sanco Sword, is were expected to be more than due for delivery in April 2014. It North Sea with Centrica, a further $300 million this year. has a fve-year contract with three, 3D project in Tanzania for Statoil, To help achieve this, Dolphin two-year options. and a 3D assignment for Cairn intends to double its feet by 2015. In addition, Dolphin has reached Energy India off South Africa. In

It currently has two, high-end a further charter agreement with addition, OMV Petrom Romania 3D seismic acquisition vessels GC Rieber for a top-end, 22-streamer, has agreed a framework agreement, on charter, Polar Duke and Polar 3D seismic newbuild vessel, and Dolphin has two and half

Duchess, in addition to a medium- working name Super Duke, with months’ 2D work for the Norwegian sized vessel, Artemis Arctic, and a the highest ice-class. This will be Petroleum Directorate this year 2D vessel, Artemis Atlantic. This constructed at Kleven Maritime in following a successful season last year, Dolphin is taking on two, new, Norway, with delivery expected in year.

high-end 3D seismic vessels: the March 2015. Its contract will be for Phil Suter, Dolphin’s marketing

Sanco Swift, and the Geo Atlantic, fve years plus two, three-year and sales VP, comments: “These from GC Rieber Shipping. options. To support Dolphin’s are exciting contracts, with Sanco Swift, a 3250dwt newbuild, chartered vessel capacity growth, an great companies, in a range of can accommodate 14 to 16 streamers additional equity of $41 million was geographical areas that offer and boasts a bollard pull capacity raised in February. some very promising exploration of about 200 tons, allowing it to tow Dolphin reports that recent opportunities. We are expecting a large confgurations. Sanco Swift contract awards include a three- busy period ahead in established will work half of the North Sea year call-off agreement with Shell European regions, such as the season this year with TGS-Nopec. in Europe, a 3D survey for Genel in North Sea, and new territories

It has a fxed term contract of fve Morocco, a 3D assignment in the along the African continent and years, with two, three-year options beyond.” Suter highlights an 8000sq to extend. km survey that Dolphin

Full stream ahead

Dolphin Geophysical has set its sights on doubling its feet and its market share.

Meg Chesshyre hears from

CEO Atle Jacobsen and his team.

oedigital.com May 2013 | OE 5151

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